Cycas Hospitality Opens First Property Outside UK and Boosts Senior Development Team as Part of European Rollout

31.1.2018 07:00 | Business Wire

Del

Cycas Hospitality, one of the largest branded extended-stay hotels
operators in the UK, has demonstrated its commitment to European
expansion by opening its first property in continental Europe and
growing its acquisition and development team through three new
appointments.

Cycas Hospitality has opened a dual-branded property under Marriott’s
Moxy and Residence Inn brands. The hotels are located on Amsterdam’s
western harbour front in the Houthavens area - the city’s emerging
creative and fashion district. The hotels have been realised in
collaboration with the developer Heren2, and will be managed by Cycas
Hospitality under a franchise from Marriott International.

The opening of these hotels is the first step of Cycas’s ambitious plan
to continue the rollout of extended-stay hotels throughout Europe. With
a key focus on the United Kingdom, the Benelux countries, France and
Germany, the extended-stay specialist’s ambition is to treble its number
of guest rooms from 3,000 open and operating, or signed and in the
pipeline, to more than 10,000 in the next five years.

In order to facilitate this growth, Cycas has expanded its development
and acquisition team, which is led by Ms. Asli Kutlucan. The new team
members are:

Lisa Neubueser, who formerly worked for Dutch extended-stay brand Zoku
International and was previously Director of Hotel Fund Management at
Invesco Real Estate in London, where she oversaw a European hotel real
estate portfolio of more than €1 billion. Lisa takes the role of
Director of Development and Acquisition, expanding Cycas’s presence in
Europe, starting with Germany.

Nicole Perreten, who formerly worked with international hospitality
consulting firm HVS and will lead the Cycas feasibility team as Head
of Feasibility.

Christos Georgiou, whose experience includes roles with Spitfire
Capital Advisors, UBS and Nomura. Christos will be Business
Development Manager, focusing on expansion in the UK and M&A
transactions.

The expansion of the development and acquisition team follows a
multi-million-Euro investment from Hua Kee in Cycas. The Thai family
office and sizeable hotel owner and operator in Southeast Asia,
Australia and Europe acquired a one-third share in Cycas, and its
investment provides the business not only with additional working
capital but also a co-investment partner and potential for future deals.

Cycas Hospitality’s turnover under management is forecast to treble over
the next two years from €38 million to over €100 million, based purely
on the business’s existing, secured and signed pipeline of hotels.

Eduard Elias, Partner & Co-founder at Cycas Hospitality, said:

“These new hotels, coupled with the expansion of our development and
acquisition team, cement our position as the European leader in
extended-stay accommodation and prepare us for further growth. With the
capital in place to fund our ambitions and a bolstered team now on board
to make them a reality, we are actively looking for new sites to operate
across continental Europe, capitalising on increasing demand from
travellers who value independence and flexibility.

“As well as launching our first hotels in continental Europe, this is
the first time we have operated Marriott’s vibrant Moxy brand and we
look forward to providing a warm welcome to guests in this exciting part
of Amsterdam.”

Asli Kutlucan, Partner at Cycas Hospitality, said:

“Whereas extended stay is already established in the US, there is an
enormous opportunity to expand this emerging asset class in Europe. I’m
confident we’ve hired the best people in the business to ensure Cycas
remains at the forefront of this rapidly evolving market and accelerate
our international growth.”

The new hotels in Amsterdam Houthavens are Marriott’s second
dual-branded property in Europe. The Moxy Amsterdam Houthavens offers
120 bedrooms, seven meeting rooms, a bar and lounge with an energetic,
contemporary vibe. The Residence Inn Amsterdam Houthavens, meanwhile,
features 60 studios and one-bedroom suites. The hotels share a pool,
sauna and gym.

Notes to Editors

About Cycas Hospitality

Founded in 2007, Cycas Hospitality is a specialist in extended-stay
hotels, managing over 1,450 suites and rooms across 11 properties.
These are located in key city centre locations across the UK (London,
Liverpool, Newcastle) and include Cycas’s first property in mainland
Europe (Amsterdam).

Cycas Hospitality partners with institutional and private investors to
maximise the full potential of their hotel assets. Its current clients
include Starwood Capital, M&L Hospitality, and CLS Holdings plc.

Extended-stay hotels are notable for their efficient operating model
and high margins; historically, long-stay hotels have outperformed the
standard hotel model during times of recession and recovered faster to
pre-crisis levels and strong growth is forecast for the sector in
Europe

Following recent investment from the family-owned Hua Kee Group, Cycas
will open three further properties by summer 2018 and intends to grow
its portfolio to more than 10,000 guest rooms in the next five years.

Having pioneered the branded extended-stay hotel concept in Europe,
Cycas is London’s leading operator in this field and a partner of
choice for major global hotel franchise brands plus international
investors. In Europe, Cycas is the largest extended-stay operator for
IHG’s Staybridge Suites brand and Marriott’s Residence Inn, and helped
develop the dual-branded hotel concept for each company.

The heart of Cycas’s first-class guest experience is a dedicated
Culture Team who ensure each property operates with Cycas’s signature
"positively outrageous service" and the philosophy that "our job is
not over until we get a smile."

Cycas delivers a combination of expertise in hotel operations,
property development and asset management. Its overarching goal is to
become one of the best hospitality employers on the market, making its
hotels the best places to work as well as stay.